What VCs think about the venture capital business

June 29, 2010

by Charley Polachi co-founder of Boston-based executive recruitment firm Polachi, Inc. The views expressed are his own.

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We surveyed more than 1,000 venture capitalists last summer with one simple question: “Is the venture capital business broken? Yes or no?”. After 53 percent said “yes,” it got me thinking about what exactly is going on here. I reached out to 50 general partners of venture funds across the country from Silicon Valley to New York and Boston to gauge the state of the venture business.

I started the conversation by asking: “How does the venture business look on January 1, 2010, when the industry can no longer drag around the 1999 returns in a trailing 10-year average?”

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